For The

as of

September 14, 2011

You've probably heard the saying, "If you fail to plan, then you plan to fail." These days, this is especially true when it comes to "planning" for the home loan process. It is so important for homebuyers to get pre-approved, which gives them written documentation that they have the full support of a lender. Sellers usually take an offer from a pre-approved buyer more seriously because they know that financing is in place and the deal is secure. Note that pre-approval is NOT the same as getting pre-qualified, which does not involve completion of a loan application that is reviewed by an underwriter.

Here are just some of the reasons homebuyers should get pre-approved...as early in the loan process as possible!

They'll have time to correct errors on their credit report that could prevent them from receiving the lowest possible interest rate...or a loan at all.

They won't look in the wrong price range for a home and be disappointed by what they can really afford, or surprised at what they could have afforded.

They'll know the amount of money they'll need long before closing.

Online calculators are notoriously inaccurate and set wrong expectations.

In today's market, many sellers won't allow showings to buyers who aren't pre-approved. Think about it: Would you uproot your family for a buyer who isn't a real prospect to buy your home?

The loan process is the last place people want any surprises to come up. Planning ahead and getting pre-approved are two of the best ways to make sure the loan process goes smoothly."

Mortgage Interest Rates*

Rates as of Wednesday, 14th September, 2011:

Term

Conforming

APR

Payment per
$1,000

Jumbo

APR

Payment per
$1,000

Arm Reset Term

Conforming 30 Yr Fixed

360

4.250%

4.335%

$4.92

%

%

$0.00

-

Conforming 15 Yr Fixed

180

3.375%

3.501%

$7.09

%

%

$0.00

-

FHA/VA 30 Year Fixed

360

4.250%

4.481%

$4.92

%

%

$0.00

-

FHA 5/1 ARM

360

3.125%

2.852%

$4.28

%

%

$0.00

60

USDA

360

4.250%

4.600%

$4.92

%

%

$0.00

-

DE FHA Bond With SMAL

360

4.500%

5.220%

$5.07

%

%

$0.00

-

DE FHA Bond

360

3.500%

4.156%

$4.49

%

%

$0.00

-

Jumbo 30 Yr Fixed

360

%

%

$0.00

4.875%

4.898%

$5.29

-

JUMBO 7/1 ARM

360

%

%

$0.00

3.875%

3.497%

$4.70

84

JUMBO 5/1 ARM

360

%

%

$0.00

3.375%

3.233%

$4.42

60

*Rates are subject to change due to market fluctuations and borrower's eligibility. Payment amounts do not include amounts for taxes and insurance. Actual payments will be higher.

*Rates are subject to change due to market fluctuations and borrower's eligibility.***Equal Housing Lender

Steve Hubbell, Realtor® - Internet Marketing Specialist - The "Bay Property Team" was formed in 2006 by Susan and Steve Hubbell to specialize in helping Buyers and Sellers invest in Waterfront and Water Access Properties in Chesapeake City, Elkton, Earleville, and Warwick in Cecil County MD. We also serve, Georgetown, Galena, and Kennedyville in Kent County MD and surrounding areas. (800)-890-0381

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If you are interested in Waterfront or Water Access Properties in Cecil County MD, Visit our Web Site!

Testimonials

Now that we have completed the sale of our home on the Elk River, we want to thank you for the really tremendous job you did in representing us. You were terrific every step of the way.
From the very beginning of the process, your approach was really insightful and you both knew the way we felt about our house/cottage. Your concept of how to position the home for the right set of buyers, your utilization of the internet, the virtual marketing plans that you’ve been developing and honing for the past four or five years as well as your guidance on how to prepare the home for prospective buyer visits and the marketing materials you created were all right on the money.
Once potential buyers surfaced your guidance on negotiations was fair and objective and your communications were clear and patient whether about the most mundane detail or the most complex issues. Your persistence and creativity in addressing whatever challenges arose were significant and always helped to move the process along at a good pace.
The result, as you know, was a record short time from listing to contract and even more importantly very satisfied sellers and what seemed to be very satisfied buyers. We could not have asked for a better process or a better outcome.
We’ve said it verbally, but it bears repeating in writing. We applaud your outstanding professionalism and much appreciate everything you did for us. It was with a bit of sadness that we left Elkton yesterday, but we truly felt that you had found buyers that seemed to want the cottage as much as we did and that will enjoy it as much as we did. That made the process a bit easier. Again, thank you.
All our best,
Mark & Sandy M

Thanks for Everything Susan & Steve!
As we sit in our chairs enjoying the sun,
We truly appreciate all you have done.
Each weekend we arrive, and as we leave,
We will always remember Susan and Steve.
We Searched a long time...
Many Hours with you,
Our Elkton Waterfront Home is Truly, a "Dream Come True"!Tom & Marie P.

Steve and Susan Hubbell provide an exceptional real estate agent service. We are three siblings who each owned a 1/3rd of a vacation home having a water view and boat access. We all live very far from the house and wanted to sell it…….in a very depressed second-home market that started in 2008. After using another realtor for about 12 months, we found Steve and Susan at Exit Realty. Everything changed for the better. Our home was being advertised on more websites, with a good description and with many more quality pictures that provided views of more of the house’s positive attributes. Steve and Susan helped immensely by suggesting options and services for making repairs to the house, cleaning the house, mowing the lawn or caring for the garden, and for clearing and cleaning the house just prior to closing. The Hubbell’s also provided realistic expectations in the then existing down real estate market. Furthermore, we received email updates providing charts of how many people viewed the house listing on the internet as well as updates on sales and comps for competing similar homes in the area. Although, it took about 3.5 years to sell the house, the internet technology knowledge and good advice provided by Steve and Susan factually supported the reasons why it took so long. Personally, I think the house would have sold sooner if we had originally started with Steve and Susan Hubbell of Exit Realty. Finally, even though the three of us all lived out of state and far away, Steve and Susan easily handled much of the paperwork via electronic signature enabling software. It was almost too easy. Steve and Susan Hubbell understand second home, water front real estate and are very good at their business.
Sincerely,
Steve G., Attorney
Dallas, TexasSteve G